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dc.contributor.authorThomas, Jonathan P.en_US
dc.date.accessioned2011-12-14T09:40:07Z-
dc.date.available2011-12-14T09:40:07Z-
dc.date.issued2003en_US
dc.identifier.urihttp://hdl.handle.net/10419/52818-
dc.description.abstractThe paper examines the main issues involved in translating domestic bankruptcy procedures to the sovereign context. It considers some of the principles by which domestic bankruptcy procedures operate, and the extent to which they apply to international lending. Two recent proposals are considered in more detail, that of Krueger (‘A New Approach to Sovereign Debt Restructuring’) and that of Pettifor (‘Resolving International Debt Crises – The Jubilee Framework for International Insolvency’). The paper also considers the question of the ex ante effects of a procedure which makes default less costly, and concludes that despite a negative impact on the ability to borrow, the overall welfare effect need not be negative.en_US
dc.language.isoengen_US
dc.publisherUNU-WIDER Helsinkien_US
dc.relation.ispartofseriesWIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2003/75en_US
dc.subject.jelF34en_US
dc.subject.ddc330en_US
dc.subject.keywordsovereign debten_US
dc.subject.keywordbankruptcyen_US
dc.subject.keywordcapital flowsen_US
dc.subject.keywordChapter 11en_US
dc.subject.stwStaatsbankrotten_US
dc.subject.stwAuslandsverschuldungen_US
dc.subject.stwAuslandsschuldendiensten_US
dc.titleBankruptcy proceedings for sovereign state insolvency and their effect on capital flowsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn376632984en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:WIDER Discussion Papers, United Nations University (UNU)

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